Ensure the Safety of Your Goods Through Transport Insurance!

Businesses as well as their goods are spreading globally and are being sold in international markets too. This has increased the potential of business profits, but the risks associated with the transportation of goods can also not be ignored. When the goods are being transported through land, air, or water, there are chances of damages due to a variety of reasons. Therefore, to protect the financial risks faced by goods during transportation, various transport insurance plans are available.

What does transport insurance policies cover?

The transit insurance protects the goods against common dangers which are as follows:

1. Earthquakes

2. Explosion

3. Fire

4. Lightning

5. Natural or human-made calamity

6. The collision of the vessel which damages the goods contained in it

7. Risks faced while loading and unloading the goods

8. Risks faced in packing and unpacking of goods

9. Malicious damages

10. Impact damage

11. Theft, etc.

Why should you invest in a transit insurance policy?

A transit insurance policy is required by businesses or individuals who are involved in the regular transportation of goods. The policy requires to be bought by:

1. Manufacturers of goods

2. Importers and exporters of goods

3. Custom house agents

4. Traders

5. Transporters or aggregators

Types of transit insurance policies:

Transit insurance policies can be provided in multiple variants like:

1. Single transit policy

This policy covers a single journey and is suitable for businesses that do not undergo frequent transportation of goods. The policy is applicable for a particular journey only.

2. Customized policy

This policy is a flexible transport insurance policy which can be customized for businesses to meet their coverage requirements.

3. Open policy

This policy covers multiple journeys occurring within a specific period of time. The businesses who frequently transport their goods can buy this policy to ensure coverage for multiple trips rather than buying a different policy for each trip.

4. Goods in transit (carrier’s) cover

If your goods are transported in the transport container of a third party carrier you can buy this policy to cover the damages when the goods are being transported using another carrier service.

5. Goods in transit (own vehicle) cover

If your own vehicle is being used for transporting the goods, this cover would insure the goods against any possible damages.